Jammu and Kashmir Bank reported a steady financial performance for the third quarter, marked by healthy growth in profitability and continued improvement in asset quality. The bank’s net profit for Q3 rose 10.7% year-on-year to ₹588 crore, compared with ₹531 crore in the corresponding quarter last year, reflecting disciplined cost management and stable core operations.
Net interest income (NII) during the quarter stood at ₹1,489 crore, registering a marginal decline of 1.3% from ₹1,509 crore reported in the same period last year. The slight softness in NII indicates pressure on interest margins amid changing interest rate dynamics, even as overall earnings remained resilient.
On the asset quality front, Jammu and Kashmir Bank continued to show improvement on a sequential basis. Gross non-performing assets (GNPA) declined to 3% compared with 3.32% in the previous quarter, highlighting effective recovery efforts and better credit monitoring. Net NPA also improved to 0.68% from 0.76% on a quarter-on-quarter basis, reinforcing the bank’s strengthened balance sheet position.
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